Assumptions

Business Assumptions

• The application is designed to simplify the management of the home budget and in general to facilitate the management of money at home. The basic functionality will be the ability to keep accounts of all household income and expenses, broken down into expense categories, types of income and the spender/earner
• The second key functionality will be budgeting. The application will analyze income and expenses and estimate their size in next periods (possibility to set the period to a week, month, etc.). The user will be able to parameterize estimates or choose a budgeting method (this is where learning these methods comes in, who of us will know what, such as the envelope method)
• In the application, you can add more modules to facilitate financial matters in the future - these are actually plans when we get to some kind of blocker, or we want to "rest" from the main problems. The application may have such modules as:
  • Shopping organizer - a shopping list that makes it easier to add expenses to the budget later
  • Receipt reader - use of OCR to enter purchase amounts faster
  • Schedule of activities - adding the possibility of a calendar with financial reminders (the application can send notifications such as pay texes or pay for rent)
  • Prioritization of expenses (by the user) and adding an "assistant" that will tell you what expenses can be resigned from in a given month (e.g. subscription to a streaming service) to make the budget tighter

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Example of use

Kasia and Marek live together. They have three bank accounts. Everyone has their own account into which they receive a monthly payment and one joint account to which they save their savings. They share all common expenses (not always evenly; e.g. Marek drives the car mainly, so they share fuel 30/70). They divide each purchase into categories (Food, Chemistry Kasia, Chemistry Marek, Chemistry Common, Fun etc) and settle between each other depending on the category. Thanks to the application, all they have to do is enter Who paid for what and how much, and the application suggests how much money Marek should give to Kasia or Kasia to Marek to be settled.

At the end of the month, they would like to know their average spending per category so that they can estimate how much money they need or where they need to tighten their belts. They would also like to see how much money they put into fixed fees so that they can put as much money as possible into a savings account at the beginning of the month. (I.e. they know that they have 10,000 a month, their monthly fees are 4,000, and they spend 1,000 on food and chemicals, so they can spend 1,000 on fun and 4,000 into a savings account). The application should also propose how much money they should spend in the next period on a given category according to the method and its parameters previously selected by the couple. If at the end of the period they turned out positive, the application should congratulate them on their success and motivate them to continue.

Kasia runs her own business, so she has to issue invoices every month, pay social security and an accountant. She would like the application to remind her of this and automatically add these costs to the budget. Marek, on the other hand, often does his shopping in specialist stores, thanks to which each receipt usually corresponds entirely to one specific category. He would like to be able to take a photo of the receipt and select a category, while the application would add the expense (amount and date) to the budget on this basis. They both would like to be able to view the entire household budget through a mobile application where they would be logged in as members of one family. Marek recently wanted to buy a graphics card, but he was short of the 2,000 he borrowed from Kasia. It would be good if the application also had the ability to save such loans between household members (and maybe also between people from different households?) to know who owes whom and how much